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People's Daily Online>>China Business

REICO: Home price to decline in H1 2012

(People's Daily Overseas Edition)

16:24, January 11, 2012

Edited and translated by People's Daily Online

REICO issued a report on China's real estate market operation situation of 2011 and prediction of 2012 in Beijing on Jan. 10.

According to the report, in 2011, the supply on real estate market increased; the growth rates of the areas of the land purchased and land newly put into construction both decreased; the growth rate of the real estate demand started declining sharply after September, the home price started declining in the fourth quarter, and the Real Estate Climate Index dropped below 100.

The report predicts that real estate demand will increase slightly in 2012; real estate supply will continue increasing; the growth rate of the investment in real estate will decrease sharply; home price will decline slightly in the first half of the year and will keep steady in the second half of the year.

REICO was jointly established by the China Real Estate Chamber of Commerce and the China Urban Reality Association Fund (CURA Fund).

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